Stamp Duty Break

Stamp Duty is a tax you might need to pay if you buy a residential property or a piece of land in England and Northern Ireland.

A Stamp Duty Break was announced earlier this year, meaning that if you’re buying your main property, up until 30th September 2021, you won’t need to pay Stamp Duty on properties or land costing up to £500,000. This applies whether you’re buying your first home or piece of land to build your first home on, or you’ve owned a property before.

How will the housing market benefit?

For first-time buyers, there is no doubt that not being required to pay Stamp Duty for properties up to the value of £500,000 will have an impact on helping them onto the property ladder.

It means that some buyers now feel that they have more money to spend on a property, as they won’t need to set aside a budget to pay for SDLT – which means that if you’re selling a property, you may be in luck.

Additionally, those already on the property ladder are likely to benefit more than first-time buyers, as if the break hadn’t been introduced, they would have had to pay SDLT regardless. As a result, this may mean that people currently on the property ladder are now more willing to move. If those people are upsizing, this may open the market to more smaller homes for first-time buyers.

Ultimately, the Stamp Duty Holiday will result in a lot of movement within the housing market – though the result of who it will benefit the most remains a waiting game.

How can Energy Efficient Heating increase my home value?

Over the years, people have become a lot more conscious of the effect they’re having on the environment and are actively seeking ways of being kinder to the planet.

There’s been a huge focus on energy efficiency, and an environmentally conscious shift has changed the outlook on the way people are using energy within their homes.

We’ve noticed that homeowners are making more environmentally friendly choices, and with the recent news of Boris Johnson’s 10 Point Plan and the government hoping that by 2050 the UK will meet the target of zero emissions coming from homes – it’s no surprise that energy efficiency and renewable energy is slowly increasing rank in the list of necessities for first time buyers and those looking for a new home.

Incorporating elements such as Biomass Boilers, Air Source Heat Pumps, Underfloor Heating and Smart Home Technology could significantly increase the appeal and value of your property, alongside making it a more environmentally friendly home.

So, if you’re building your dream home or are thinking of making these changes to your current property, get in contact today and Haven Home Solutions will be able to provide advice and support while supplying you with the perfect bespoke heating system for you!